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Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of the new year, since it ended on a downward spiral back in late December, ahead of the Christmas Holidays. In any case, 2011 proved to be an interesting, yet quite challenging year for dry bulk owners, who will be turning their heads towards the new year with much anticipation, as to what effect will China manage to exert on demand of dry bulk goods.
According to a recent BIMCO analysis on the dry bulk market, “despite the supply-side pressure, we put our money on black and forecast that Capesize rates are going to be supported by lower iron ore prices and coal demand for Winter heating in the coming months, thus we expect freight rates to stay sensitive to iron ore price developments but above USD 20,000 per day. A key observation from BIMCO is that we believe mining companies will prefer to sell this important steel production ingredient in larger volumes rather than higher prices, as long as China appears ready to purchase” said the analysis.
It went on to mention that “in order to deliver the support needed to keep rates elevated, Chinese iron ore imports will need a level of 61.2 million tonnes in both November and December, which in turn will bring the annual total import growth to +10% y-o-y. The supporting argument that must trump the negative impact from high stockpiles and slower steel production is the pricing game. China has built a firm reputation for playing the commodity markets well.
Looking beyond the Capesize fleet and into 2012, the smaller-in-size segments are going to experience a healthy slowdown in new deliveries. Right now, deliveries are estimated at 80 million DWT – equal to a fleet growth of 11.4%; a number that is likely to get slightly inflated by vessels that were set for December delivery but end up being January deliveries instead. A potential upside may also come from Russia, if they decide to impose a ban on grain exports to stop excessive outflow of the foodstuff. This will lead to longer hauls, as African and Middle Eastern importers will have to look for alternative sources potentially further away. Should they go to the most likely exporters, Australia or Argentina, the impact on the freight markets will be most significant.
To sum up, BIMCO holds the view that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply will eventually hit back. Meanwhile, we reiterate our forecast on the Panamax and Supramax freight rates that are likely to stay put in the USD 13,000-17,000 per day interval. Handysize rates are expected to gain traction and return to the USD 9,000-13,000 per day interval” concluded BIMCO’s chief shipping analyst, Peter Sand.
Meanwhile, in separate report on the course of second hand sales and newbuilding orders during the final week of the year, Lion Shipbrokers said that “on the dry-bulk front, an even quieter week with very few sales to report; Vintage handysize bulker HUI SHENG (37K BLT 1984/BRAZIL TRADING AS GEARLESS) has changed hands within China for $4.8 mill while gearless ice class 1A box single-decker LONE BRES (4.7K BLT 2000/HOLLAND) went to Norwegian Buyers for $2.85 mill basis annual & intermediate surveys freshly passed. In the Tanker segment, in addition to last week's report, Greek controlled suezmax duo EQUATOR & NAVIGATOR (150K BLT 2006 UNIVERSAL/JAPAN) have been committed en bloc for $44 mill each basis delivery January 2012 to clients of Principal Maritime of U.S.A. Two ex-Dr Peters controlled aframax/LR2 tankers were sold at auction. DS PERFORMER & DS POWER (109K BLT 1999/2000 DALIAN/CHINA) were sold for $15 mill each in auctions in Aruba & Rotterdam respectively, hearing both were bought by the Mortgagee bank, while others suggest by clients of Clearwater. Stainless steel chemical tanker ORIENTAL WISTERIA (12.5K BLT 2001/JAPAN) is reported committed to Chinese Buyers for $10.7 million” said Lion.
On the demolition market, it mentioned that “the news that Bangladesh will most probably re-open around 12th to 14th of January have put smiles upon Shipowners' faces, hoping that competition will push demo-rates above $500 levels. Most notable sale this week is container vessel BUXMASTER (LDT 6.837T, 23K BLT 1986/GERMANY) committed for the bullish price of $508 to India without having any extra features like extra bunkers/propeller or tailshaft to justify this level. The subcontinent's sentiment is positive and prices are ranging at $450 for Bulkers, $475 for tankers & $475 for Container/Tweendeckers. In other major demo-markets, China has improved paying $430 per lt, while Turkey is stable paying $330-335 per lt” concluded Lion Shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Planning Commission, India
- Posco Energy - South Korea
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
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